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Russia’s largest cut diamonds producer included into 2017-2019 privatization plan — source

February 02, 18:05 UTC+3

Russia's Kristall is one of the largest diamond cutting companies across the globe

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MOSCOW, February 2. /TASS/. Russia’s largest cut diamonds producer Kristall was included into the 2017-2019 privatization plan, a source familiar with privatization plans told TASS on Thursday.

Kristall is the Russia’s largest producer of cut diamonds and one of the largest diamond cutting companies across the globe.

The source also said that the plan for privatization of Russian state-owned assets in 2017-2019 endorsed earlier at the government meeting on Thursday, stipulates lowering of the government’s participation interest in Alrosa diamond miner to 29% plus 1 share.

"The plan [on privatization in 2017-2019 - TASS] contemplates lowering of Russia’s participation interest in the charter capital of Alrosa to 29% plus 1 shares and coordination of sales of shares owned by the Republic of Sakha (Yakutia) and in municipal property," the source said.

According to the source, the privatization plan implies Russia’s total withdrawal from Novorossiysk Commercial Seaport (NCSP) and United Grain Company (UGC).

"The plan implies Russia’s withdrawal from the equity capital of NCSP and UGC," he said.

The privatization plan also implies a reduction of the state share in Sovcomflot to 25% plus one share, according to the source.

"The (privatization) plan (for 2017-2019 - TASS) implies Russia’s withdrawal from the equity capital of Sovcomflot to 25% plus one share," he said.

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